Performance indicators are one of the most important asset management sections in Uptime Elements. Having representative key performance indicators (KPIs) is important in gaining needed control to assure fulfillment of achievement for organizations and stakeholders’ goals and needed values. But they are only useful if we succeed to identify the right ones for our business and processes. They will only deliver critical information and targeted outcomes if we built them by strategic, meaningful, simple top-down approach. KPI sources and databases are full of numerous ones but building your own set is the challenge.
At Sidi-Kerir Petrochemicals Company (SIDPEC), we succeeded in this challenge. We knew that we should always start with strategy. Without a firm stake in the ground around what our business is seeking to achieve, it’s incredibly easy to end up with a frighteningly dispersing long list of possible indicators that we feel we could or should measure. In this presentation, a real winning case study will be presented for how we succeeded in strategic building of our own asset management related KPIs.
When we were asked from our company's CEO to develop a new representative set of KPIs, we got back to basics and searched for why this was requested and what we wanted them to tell us. We relied on our understanding for our functions, key result areas, related values, needed outcomes and leading processes to generate a successful set of strategically built and real working KPIs. We had the advantage of fully understanding their role in assuring value attainment and strategic goals achievement so that we can easily measure, interpret, communicate and use them to realign implantation and attain needed results.
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